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Assume (1) the quantity of materials purchased equals the quantity used in production, (2) the materials spending variance is unfavorable, and (3) the materials quantity varlance is favorable. Given these assumptions, which of the following statements is true? Multiple Cholce The materials price variance could be favorable or possibly unfovorable depending on the standard quantity of material allowed for the actual level of output. The materials price variance must be favorable. The materials price varlance must be unfavorable. The materials pice variance must be equal in amount to the materials quantily variance but unfavorable instead of favorable